In my previous sketches upon the subjects embraced in the above title, whilst, on the one hand, I was desirous to avoid burdening them with any apparently superfluous details, on the other hand, I clearly foresaw that the task would remain of following out, in at least another article, some needful explanations or justifications. To my former readers I therefore inscribe the following notes, in the anticipation of their being found not wholly unserviceable in the view just adverted to.

I. Wiener Allgemeine Wittwen und Waisen Pension Institut. (General Annuity Fund for Widows and Orphans in Vienna.) –This establishment, founded in 1823 under the patronage of Prince Schwarzenberg, has for its object to insure annuities to the widows and children of the subscribing members who happen to die at least three years after their admission into the Society. The widows are pensioned until their death; the children until the age of 20.

Next to England, Germany is the country in which the principles of life assurance have had the most successful development. It is true the more recent French Companies, La Caisse Paternelle, L'Equitable, La Caisse des Ecoles et des Families, which also call the assurances granted by them assurances sur la vie, show a greater extension in a shorter time; but what they guarantee to the public are not life assurances in our sense of the word. They are neither assurances granted for previously specified sums, nor is the payment of the claim dependent on the death of the assured. The more modern French life assurances are rather indefinite reversions obtained by paying in any sum the assured pleases, the interest of which (as in the Tontines), according to the mortality found to prevail in the different classes, may prove sometimes greater, sometimes less, and is only divided amongst those who attain the term of life which may have been previously agreed on. The contributions of those who die early, together with the interests thereon, go to augment the dividends to the surviving members. Whilst life assurance amongst the English and Germans is therefore calculated to be on the death of the assured a source of provision for their families, the more recent mode of life assurance amongst the French principally aims at granting to the assured himself, in his lifetime, an annuity or sum of money, which, increasing according as the computations are made for an earlier or later period, affords him the means of extending his business, of completing his education, of securing a dowry on marriage, or a provision in old age. In consequence, partly of the prospect of selfenjoyment of the reserve thus made, partly the possibility of obtaining a high profit for a small investment through a greater mortality in the classes than the tables assumed, this kind of assurance became very much in vogue amongst the French. Recently, however, a clearer understanding of the matter, and the exposure of some deceptions which a few of the Companies or their managers have been guilty of, have in some degree cooled the public favour.

It is a point well worthy of observation, that while England has been for centuries past so eminently practical in every branch of commercial enterprise, there have been but few attempts made until lately, to examine freely the well-worn rules of insurance business with a view to alteration. There has prevailed a general, and not altogether unwise, determination to let well alone, and quietly continue the system, however faulty, which experience had shown could lead to an ultimate and satisfactory profit.